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Strong Quarter for NICE as Digital Investments Accelerate Cloud Platform Adoption; FVE Up to $320

Dan Romanoff, CPA Senior Equity Analyst

Analyst Note

| Dan Romanoff, CPA |

Narrow-moat NICE reported strong third-quarter results with both revenue and adjusted earnings exceeding guidance and our above-FactSet consensus expectations. NICE continues to benefit from consumer-led accelerating digital adoption, with the integration of contact center as a service, or CCaaS, and digital customer experience, or CX, driving a powerful value proposition. From a competitive standpoint, we believe the data-informed artificial intelligence CXOne offers is a clear leader in the CCaaS industry, and we expect this holistic digital solution to accelerate adoption of NICE’s cloud-based CXOne platform. Based on results, a long growth runway, and a raised 2021 outlook, we are raising our fair value estimate to $320 from $283. With shares up 7% since the release to around $310, we view shares as fairly valued.

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Company Profile

Business Description

Nice is an enterprise software company that operates in two segments: customer engagement and financial crime and compliance. The company develops on-premises and cloud software based on data analytics. In customer engagement, Nice uses its software to offer services in workforce engagement management and contact center infrastructure, serving both niches. WEM products optimize call center efficiency, using data for call volume forecasting and scheduling. CCI products are cloud-based infrastructure products for back-end call routing. In financial crime and compliance, Nice sells anti-money-laundering, risk management, and fraud prevention software products.

13 Zarchin Street, P.O. Box 690
Ra'anana, 4310602, Israel
T +972 97753151
Sector Technology
Industry Software - Application
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 6,383